Based on the following data, would Ann and Carl Wilton receive a refund or owe additional taxes?

Question:

Adjusted gross income,...........................................$66,686

Itemized deductions,...............................................$14,900

Child care tax credit,.....................................................$100

Federal income tax withheld,...................................$5,490

Amount for personal exemptions,........................$12,150

Tax rate on taxable income,..............................15 percent

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Taxable income would be 39636 66686 14900 12150 ...View the full answer

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